Arsenal switched tack from youth to experience on deadline day, dropping their interest in young German winger Julian Draxler and turning to veteran Swedish midfielder Kim Kallstrom.
Kallstrom, 31, travelled to London from Abu Dhabi, where he had been training with his Russian club Spartak Moscow ahead of an expected loan deal until the end of the season.
Wenger ruled out a deal for Schalke's Draxler, but has also been linked with another German, Lazio's 35-year-old forward Miroslav Klose, the joint top scorer and second most-capped player of all time for his country.
Leaving the Gunners is midfielder Emmanuel Frimpong, who has joined Championship side Barnsley in a permanent deal.
Arsenal's rivals Tottenham have missed out on a return for Dimitar Berbatov, with the Fulham striker set to join Monaco.
The 33-year-old Bulgarian travelled to Monaco to undergo a medical this afternoon with the French Ligue 1 side, with German midfielder Lewis Holtby joining Fulham on loan from Tottenham for the rest of the season.
Fulham have also captured Greece striker Kostas Mitroglou from Olympiacos for a reported fee of £11million.
The 25-year-old, who has signed a four-and-a-half-year deal, has been in superb form, scoring 21 goals in 23 appearances for club and country this season, including four hat-tricks.
Chelsea have announced the signing of Kurt Zouma from St Etienne, where the defender will remain on loan for the rest of the season.
The 19-year-old has signed a five-and-a-half-year contract at Stamford Bridge.
Meanwhile, the long-anticipated loan deal for Manchester United winger Wilfried Zaha to Cardiff has finally gone through.
The 21-year-old has joined the Bluebirds for the rest of the season and should get a chance to prove his Premier League quality after a frustrating six months at United.
Cardiff boss Ole Gunnar Solskjaer said: "He has pace, power, technical ability and goes past people. He will bring that little final bit to find pockets of space and produce a bit of magic."
Sunderland have signed Scotland midfielder Liam Bridcutt from Brighton on a three-and-a-half-year deal for an undisclosed fee, while Southampton striker Dani Osvaldo has moved closer to joining Juventus as he underwent a medical with the Italian league leaders.
The 28-year-old Italy international arrived in a club-record deal from Roma last summer but has failed to live up to the billing.
Juventus announced on their website: "Italian international striker Pablo Daniel Osvaldo is visiting Turin's Clinica Fornaca di Sessant, Isokinetic and Istituto di Medicina dello Sport centres today for medical examinations."
Lyon midfielder Clement Grenier has confirmed he intends to stay with the French club following interest from Newcastle.
"I don't intend to leave. It's not a priority, even if the offers from big clubs make you think," Grenier said on Lyon's website.
Liverpool boss Brendan Rodgers is still hoping Yevhen Konoplyanka's transfer will go through but admits the deal is "a little complicated".
The Reds have been in talks with Ukrainian club Dnipro over their winger who is likely to cost a fee of around £16million.